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Nov 24, 2012 10:00am PST
city index up is five months in a row. you say don't look at the prices so much. >> i think looking at housing prices is the worst thing to look at. i think you want to look at activity levels. the reason we're seeing prices uptick is we're seeing foreclosure activity at a lighter level than it would have been. we had the scandal a couple years ago. banks discovered during the process while they held back on foreclosures short sales were the way to go. we have a lot less distressed property in the mix right now. it's skewing the metrics. >> isn't a market still a market. doesn't that mean that people are willing to pay more for houses? >> i take word with the issue recovery. when i was at school, the word recovery meant getting better. i think the word recovery now means not getting worse. >> chris, jonathan takes that view. allen greenspan says slow down. we heard from ben bernanke this week. listen to what he said. >> unfortunately, while some tightening of the terms of mortgage credit is an appropriate response to the developments of earlier accesses, the pend la appears to have
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